Vietnam's Vingroup investing $500M to put up EV manufacturing facility in PH — DTI

Vietnamese conglomerate Vingroup is pouring in $500 million worth of investments to establish a flagship electric vehicle (EV) manufacturing facility in the Philippines, the Department of Trade and Industry (DTI) said Wednesday.

In a news release, the DTI said Vingroup's investment forms part of the Vietnamese company's regional expansion, building on its existing operations in Jakarta, Indonesia, and India.

The Trade Department said Vingroup's strategic expansion "underscores the Philippines' growing reputation as a premier regional hub for advanced manufacturing, clean energy, and next-generation mobility."

The planned manufacturing plant is designed to initially produce 200,000 vehicles per year, catering to both the domestic market and export destinations.

The DTI added that apart from four-wheeled electric vehicles, Vingroup is also introducing its line of e-scooters to the Philippine market.

Construction for the facility is targeted to begin by first quarter of 2027, with an estimated development timeline of one to one and a half years, it said.

"Vingroup's USD 500 million investment underscores the Philippines' rising status as Southeast Asia's destination of choice for advanced manufacturing and green technology. Under President Marcos Jr.'s administration, our mandate is clear: to translate investor confidence into immediate operational momentum. The DTI is fully mobilized to provide end-to-end facilitation, ensuring a competitive ecosystem for global innovators scaling their manufacturing footprint in our country," said Trade and Industry Secretary Cristina Roque.

The Trade Department said it outlined institutional support mechanisms and competitive fiscal incentives available for the project, including the tax incentives under the CREATE MORE Act and expedited regulatory processing through Green Lanes under Executive Order 18 during its discussion with Nguyen Quoc Tuan, vice chairman of Vingroup and chairman of GSM Global.

Combining the country's robust government support frameworks with Vingroup's long-term multi-industry vision, this investment signals a transformative leap forward in accelerating the Philippines' industrial modernization and clean energy transition, according to the DTI. — VDV, GMA News